one8zero8 LLC Makes New Investment in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

one8zero8 LLC purchased a new stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 39,700 shares of the biotechnology company’s stock, valued at approximately $499,000.

Several other hedge funds also recently made changes to their positions in the stock. Wellington Management Group LLP grew its holdings in Rocket Pharmaceuticals by 22.8% during the 3rd quarter. Wellington Management Group LLP now owns 11,242,144 shares of the biotechnology company’s stock valued at $207,642,000 after buying an additional 2,086,424 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in Rocket Pharmaceuticals by 3.8% during the third quarter. Westfield Capital Management Co. LP now owns 4,493,833 shares of the biotechnology company’s stock valued at $83,001,000 after acquiring an additional 165,911 shares in the last quarter. Maverick Capital Ltd. increased its holdings in Rocket Pharmaceuticals by 4.8% during the 3rd quarter. Maverick Capital Ltd. now owns 4,118,672 shares of the biotechnology company’s stock worth $76,072,000 after acquiring an additional 190,360 shares during the period. State Street Corp lifted its stake in Rocket Pharmaceuticals by 11.6% in the 3rd quarter. State Street Corp now owns 3,102,022 shares of the biotechnology company’s stock worth $57,294,000 after purchasing an additional 322,156 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Rocket Pharmaceuticals by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,617,866 shares of the biotechnology company’s stock valued at $29,888,000 after purchasing an additional 14,256 shares during the period. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Pharmaceuticals Stock Performance

NASDAQ RCKT opened at $8.76 on Monday. The company has a 50-day simple moving average of $10.22 and a two-hundred day simple moving average of $13.94. Rocket Pharmaceuticals, Inc. has a 12-month low of $8.06 and a 12-month high of $28.67. The firm has a market cap of $934.08 million, a price-to-earnings ratio of -3.19 and a beta of 1.03. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.06. On average, equities analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on RCKT shares. Wedbush started coverage on Rocket Pharmaceuticals in a research report on Monday, December 30th. They issued an “outperform” rating and a $32.00 price objective on the stock. Canaccord Genuity Group lowered their price target on Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Jefferies Financial Group assumed coverage on Rocket Pharmaceuticals in a report on Wednesday, December 18th. They set a “buy” rating and a $29.00 price objective for the company. Chardan Capital lowered their target price on shares of Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Finally, BMO Capital Markets assumed coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 price target for the company. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Rocket Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Rocket Pharmaceuticals Profile

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a late-stage biotechnology company that focuses on developing gene therapies for rare and devastating diseases. It has three clinical-stage ex vivo lentiviral vector programs for fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction; and pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia.